The Dos and Don’ts of Filing For Bankruptcy
When it comes to filing for bankruptcy, there are certain things that debtors should be sure to do to help ensure that their bankruptcy filing proceeds without a hitch. There are also certain things that debtors should never do or avoid doing that could potentially delay their bankruptcy, or could even cause the proceeding to be dismissed. Anyone who is considering filing for bankruptcy should know that there are certain dos and don’ts for bankruptcy.
Below are a few things that debtors must make sure that they do in order to have the best chance of success during their bankruptcy proceeding.
- DO consult with a bankruptcy lawyer early in the process. It is always a good idea to work with an experienced bankruptcy lawyer to determine whether bankruptcy is something you should be considering at all. You might have other options available, or should try other debt management options before resorting to bankruptcy proceedings.
- DO participate in pre-bankruptcy credit counseling. No matter what type of bankruptcy you are seeking, you will need to complete pre-bankruptcy credit counseling six months before you make your bankruptcy filings. The session must be held with an accredited credit counselor. Regardless of the counselor’s recommendation at the end of the counseling, the decision of whether to move forward with bankruptcy proceedings is up to you.
- DO attend all required meetings. Whether you are filing for Chapter 7 or Chapter 13 bankruptcy, you will be required to attend meetings with your creditors. You will also need to have meetings with your lawyer. You need to go to these meetings on time and you need to be prepared.
- DO participate in a debtor education course. At the conclusion of your bankruptcy proceedings, you will be required to attend a debtor education course. You need to complete this course.
Below are a few things that debtors should try to avoid doing before or during their bankruptcy proceedings.
- DON’T file for bankruptcy alone. There is no legal requirement that you have a lawyer help you with your bankruptcy proceeding. However, an experienced bankruptcy lawyer can offer you invaluable insight due to their understanding of the law and their experience handling many other cases just like yours.
- DON’T try to hide assets or money. Hiding or giving away money before declaring for bankruptcy is a big no-no. Engaging in this type of behavior reflects poorly on you in the eyes of the judge.
- DON’T return to your old ways or spending habits. Once you debts are discharged in bankruptcy, it is important that you don’t return to the same behavior that got you into your financial troubles in the first place. Make a budget, control your credit card usage and monitor your spending.
A Lawyer Can Help You With Your Bankruptcy
Let someone who knowledgeable and skilled help you with the dos and don’ts of your bankruptcy case. The experienced Michigan bankruptcy lawyers at the office of Karen E. Evangelista, PC will help you through the whole bankruptcy process. Please feel free to contact us today at 248-652-7990.